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Real Estate Prices & Overview

Market St / S 8th St median real estate price is $490,595, which is more expensive than 75.8% of the neighborhoods in North Carolina and 64.0% of the neighborhoods in the U.S.

The average rental price in Market St / S 8th St is currently $2,072, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 64.6% of the neighborhoods in North Carolina.

Market St / S 8th St is a suburban neighborhood (based on population density) located in Wilmington, North Carolina.

Market St / S 8th St real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) single-family homes and small apartment buildings. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Market St / S 8th St neighborhood are relatively historic, built no later than 1939, and in some cases, quite a bit earlier. A number of residences were also built between 1940 and 1969.

Vacant apartments or homes are a major fact of life in Market St / S 8th St. The current real estate vacancy rate here is 26.6%. This is higher than the rate of vacancies in 92.9% of all U.S. neighborhoods. In addition, most vacant housing here is vacant year round. This can sometimes be the case in neighborhoods dominated by new construction that is not yet occupied. But often neighborhoods with vacancy rates this high are places that can be plagued by a protracted vacancy problem. If you live here, you may find that a number of buildings in your neighborhood are actually empty.

Notable & Unique Neighborhood Characteristics

Many things matter about a neighborhood, but the first thing most people notice is the way a neighborhood looks and its particular character. For example, one might notice whether the buildings all date from a certain time period or whether shop signs are in multiple languages. This particular neighborhood in Wilmington, the Market St / S 8th St neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

People

Of note is NeighborhoodScout's research finding that the Market St / S 8th St neighborhood has some of the lowest rates of children living in poverty of any neighborhood in the United States. In a nation where approximately 1 in 4 children are living in poverty, the Market St / S 8th St community truly stands out from the rest in this regard.

In addition, the types of households in a neighborhood can tell a lot about the character and lifestyle of those living here. NeighborhoodScout's exclusive analysis reveals that this neighborhood, above nearly every neighborhood in America, has a greater percentage of its residents living alone: 49.2%. This is a higher percent living alone than we found in 95.1% of all U.S. neighborhoods. Often residents who live alone are new arrivals to an area who are single, and often senior citizens who have lost a spouse.

Also, if you're planning where to retire, the Market St / S 8th St neighborhood in Wilmington is a great option to consider. According to NeighborhoodScout's exclusive retirement dream area analysis, it's peaceful and quiet, has above average safety ratings compared to other neighborhoods in NC, offers a wide range of housing options, and has already attracted an enviable mix of college educated seniors. This neighborhood ranks as better for retirement living than 87.2% of the neighborhoods in North Carolina. If you are considering retiring to North Carolina, this is a good neighborhood to look at.

Real Estate

Do you watch 'This Old House' on Public Television? Do you love the idea of fixing up a Colonial or Victorian era home, complete with the charm of yesteryear? Do you like to stroll or drive streets lined with gracious older residences? If you found yourself nodding yes to any of these questions, you are going to be interested in this unique neighborhood. The Market St / S 8th St neighborhood stands out on a national scale for the sheer concentration of historic residences it contains: 65.5% of the residential real estate here was built from 1939 or earlier, some much earlier. This is a greater concentration of historic homes than 97.7% of the neighborhoods in the United States.

Diversity

Did you know that the Market St / S 8th St neighborhood has more British and African ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 3.4% of this neighborhood's residents have British ancestry and 7.0% have African ancestry.

Market St / S 8th St is also pretty special linguistically. Significantly, 2.8% of its residents five years old and above primarily speak Tagalog, which is the first language of the Philippine region, at home. While this may seem like a small percentage, it is higher than 95.4% of the neighborhoods in America.

The Neighbors

There are two complementary measures for understanding the income of a neighborhood's residents: the average and the extremes. While a neighborhood may be relatively wealthy overall, it is equally important to understand the rate of people - particularly children - who are living at or below the federal poverty line, which is extremely low income. Some neighborhoods with a lower average income may actually have a lower childhood poverty rate than another with a higher average income, and this helps us understand the conditions and character of a neighborhood.

The neighbors in the Market St / S 8th St neighborhood in Wilmington are middle-income, making it a moderate income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 40.2% of the neighborhoods in America. In addition, 0.0% of the children seventeen and under living in this neighborhood are living below the federal poverty line, which is a lower rate of childhood poverty than is found in 100.0% of America's neighborhoods.

What we choose to do for a living reflects who we are. Each neighborhood has a different mix of occupations represented, and together these tell you about the neighborhood and help you understand if this neighborhood may fit your lifestyle.

In the Market St / S 8th St neighborhood, 64.0% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is sales and service jobs, from major sales accounts, to working in fast food restaurants, with 24.2% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (10.2%).

Languages

The languages spoken by people in this neighborhood are diverse. These are tabulated as the languages people preferentially speak when they are at home with their families. The most common language spoken in the Market St / S 8th St neighborhood is English, spoken by 97.2% of households. Other important languages spoken here include Italian and Tagalog (the first language of the Philippine region).

Ethnicity / Ancestry

Culture is the shared learned behavior of peoples. Undeniably, different ethnicities and ancestries have different cultural traditions, and as a result, neighborhoods with concentrations of residents of one or another ethnicities or ancestries will express those cultures. It is what makes the North End in Boston so fun to visit for the Italian restaurants, bakeries, culture, and charm, and similarly, why people enjoy visiting Chinatown in San Francisco.

In the Market St / S 8th St neighborhood in Wilmington, NC, residents most commonly identify their ethnicity or ancestry as English (11.5%). There are also a number of people of German ancestry (9.9%), and residents who report Irish roots (9.7%), and some of the residents are also of Sub-Saharan African ancestry (7.0%), along with some African ancestry residents (7.0%), among others.

Getting to Work

How you get to work – car, bus, train or other means – and how much of your day it takes to do so is a large quality of life and financial issue. Especially with gasoline prices rising and expected to continue doing so, the length and means of one's commute can be a financial burden. Some neighborhoods are physically located so that many residents have to drive in their own car, others are set up so many walk to work, or can take a train, bus, or bike. The greatest number of commuters in Market St / S 8th St neighborhood spend between 15 and 30 minutes commuting one-way to work (48.5% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (63.1%) drive alone in a private automobile to get to work. In addition, quite a number also hop out the door and walk to work to get to work (9.9%) and 6.1% of residents also carpool with coworkers, friends, or neighbors for their daily commute. In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.


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